“Electric motor sales market projected to grow at a CAGR of 6.26% from 2016 to 2021”
The electric motor sales market is projected to reach USD 127.63 billion by 2021, growing at a CAGR of 6.26% during the forecast period. Increasing power demand, growing industrial, commercial, & residential infrastructure, rising HVAC application, and fuel-efficient transportation are set to drive the market growth for electric motors across the world.
>1 hpsegment: The fastest growing segment of the electric motor sales market
The market for >1 hp (integral horse power) motors is expected to grow at the highest CAGR from 2016 to 2021, considering growing demand from various end-user industries such as paper & pulp, chemicals, wastewater, and construction among others. The Middle Eastern & African market for > 1 hp motors is expected to grow during the forecast period due to the upcoming international events such as Dubai Expo 2020, FIFA World Cup 2022 in Qatar, and IAAF World Athletics Championship 2019 in Qatar. These events are expected to act as catalysts for the growth of the construction market in the Middle East, which would further boost the >1 hp (integral horse power) motors market.
“Asia-Pacific: The fastest growing region of the electric motor sales market”
In terms of market, by region, Asia-Pacific is expected to be the fastest growing region of the electric motor sales market during the forecast period. The growth in agriculture sector is continuously increasing in China, India, Australia, and South Korea which will further boost the demand for electric motors in the region. Apart from Asia-Pacific, Europe and North America are also the biggest markets for electric motors. Aging infrastructure of water and wastewater treatment facilities in North America is expected to influence the growth of the electric motor sales market in the coming years.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, corporate-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1: 43%, Tier 2: 33%, and Tier 3: 24%
- By Designation: Director Level: 35%, C Level: 25%, and Engineer Level: 40%
- By Region:Asia-Pacific: 45%, Europe: 30%, Americas: 15%, and RoW: 10%
Note: RoW = Rest of the World,
The tier of the companies is defined based on their total revenue, as of 2013: Tier 1 = > USD 10 billion, Tier 2 = From USD 1 billion to USD 10 billion and Tier 3 = < USD 1 billion
Leading players in this industry have been profiled, along with their recent developments and other strategic activities. These include ABB Ltd. (Switzerland), Siemens AG (Germany), Nidec Corporation (Japan), Denso Corporation (Japan), General Electric Company (U.S.), and Bosch Group (Germany), among others.
The report segments the market on the basis of type into AC motors and DC motors; end-user into industrial, residential, commercial, transportation, and agriculture; voltage into6.6 kV (high); output power into1 hp (integralhorse power), and region into Asia-Pacific, North America, South America, Europe, and the Middle East & Africa. Each region has been further analyzed based on key country-level markets.
Why buy this report?
- The report identifies and addresses key markets for electric motors which is useful for suppliers and OEMs to review production and distribution plans.
- The report helps manufacturers to understand the pulse of the market and provides insights on drivers, restraints, and challenges. The report includes analysis for key countries by type of electric motors, i.e., AC motors and DC motors. It analyzes historical trends and also provides forecast for 2021 assisting in strategic decision making.
- The report will help OEMs to better understand their competition’s strategies and will help in making strategic decisions. It also presents competition by analyzing recent market developments such as key contracts, expansions, and new product launches from the key global market players. It helps understand the competition strategies and plan respective initiatives.